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and the state of the two biggest economies in the world. first up, on tuesday in the state of the union, president obama challenged congress to vote on proposals to get weapons of war off our streets. but will it happen? can it happen? we'll talk to a world leader who made it happen in his nation. >>> then, larry summers on how to create jobs in america. the former treasury secretary on how the president can achieve the goals he laid out for the economy. >>> then, many worry that the world's second largest economy is headed for a crash. a rare inside look at the inner workings of the chinese economy. what's really happening there? >>> also, what in the world will get north korea to end its nuclear ambitions? i'll give you my plan. but, first, here's my take. president obama's state of the union address presented an expanded vision of smart government to create jobs and revive the economy. it had many important ideas in it. yet, he lowered his sights on the single policy that would both jump start the economy in the short term and create the conditions for long-term growth. infrastructur
the economy comes to life. norfolk southern. one line, infinite possibilities. then you're going to love this. right now they're only $14.95! wow-a grt deal just got a whole lot better. hurry. $14.95 won't last. >>> the united kingdom is in disarray after horse meat was found in products intended for humans. dinners supplied to schools in northern england included. officials have raided five meat plants and arrested three workers so far. as many as 10,000 products still need to be tested. >>> back in the u.s., the obama administration says as of today they won't take any more applications for the pre-existing condition insurance plan because of limited funding. it's a stop gap program to help people with medical problems who cannot get private insurance right now. new legal provisions kick in january 1st of next year, barring insurers for turning anyone away for poor health. >>> thanks for watching this morning. i'll see you back here at the top of the hour. "your bottom line" starts right now. >>> thank you, susan and victor. we'll see you at the top of the hour. we know what we
what we've recovered from. the minimum wage economy, is that what we're recovering to? good morning, i'm christine romans. 28 months in a row, 6.1 million jobs created in the past three years, but the jobs we're adding are not the same quality as the jobs we lost. survey from rutgers university finds 60% of people who found work in six months settled for lower pay. these aren't jobs you can send a kid to college on or buy a house. president obama detailed his blueprint for boosting the middle class. the only new proposal was an old one, raising the minimum wage. >> let's declare that in the wealthiest nation on earth, no one who works full time should have to live in poverty and raise the federal minimum wage to $9 an hour. >> free action was swift and fierce. conservatives say, hey, that's a jobs killer. progressives say it lifts families out of poverty. the problem, you can't find studies to support just about any position. a study found the new minimum wage actually means fewer jobs for low-skilled workers but a study by alan krueger concludes minl mihm wage hikes dewpoint reduce em
around, stock market near all-time highs, housing market recovering and the economy adding jobs every month. now relief may have given way to a little bit of worry. here's why. it's starting to feel like a recession again, especially if you're living paycheck to paycheck, gas prices up nearly 50 cents in the past month. the fastest run-up, you're bringing homeless money, thanks to the expiration of the tax cut. you're getting about 60 bucks less every month. rents are rising, up 12 quarters in a row now. unemployment is still too high. if you were counting on an early tax refupd you have had to wait. because of the fiscal cliff fiasco, the irs did not start issuing refund checks until january 30th. a stretched consumer, a consumer who has no choice but to cut back. big companies you work for say this is already happening. this week, walmart, the proxy for the american consumer says february sales were slow. why? it blamed gas prices, the end of the payroll tax holiday and those delayed tax refunds. that's what we know. washington to the rescue? of course not. on friday comes austerity
firing on the suburbs. the economy here is devastated. and these shops are empty. there's no tourism. international sanctions are strangling businesses. and there is no end to this war in sight. josh? >> terry, thank you. and he'll be taking an inside look at the battle for damascus and what it means for u.s. national security tonight on "world news" and "nightline." >>> meanwhile, back here at home, new details about a potential motive in the newtown, connecticut, school shooting. gunman adam lanza may have, in fact, been competing with another serial killer. "the hartford courant" newspaper reports authorities found news articleses in lan za's bedroom, about the killing spree in norway, carried out by anders brevik, who bombed buildings at a youth camp, killing 77 people. the investigation is still ongoing. any theory now is purely speculative. >>> and new information on what left the carnival cruise ship stranded in the gulf of mexico last week. forcing 4200 passengers and crew to live on the boot for nearly a week without power and plumbing. the coast guard now blames a leak in a
-the-board cuts. >> please, i would like to finish what i'm saying here. 750,000 jobs will be lost. the economy will shrink by 6%, and what we've produced is very simple. it's closing loopholes. the only people who support them are the people who benefit them from them, oil and gas loopholes, the idea that businesses shouldn't get breaks by sending jobs overseas, the idea that someone who makes over $1 million should pay a higher rate than others, and whether it's right on the eve of sequestration or if god forbid it has to take effect for a few days, the devastating effects will be so strong. the president will be out there on his bully pulpit that just like on the fiscal cliff republicans will come on board. they have no choice. their arguments are untenable and don't meet the favor of hardly anyone other than themselves and the few whose special interests they are protecting. >> let me move you on to immigration simply because we now see the white house sort of draft immigration bill, at least the skeleton of it, has been leaked out there. we know that democrats had been saying to the white
economy. that's a really, really tiny slice of the thanksgiving pie, people. there is no need to cut from the vulnerable when it should be easy to cut the amount of money we're talking about from other places. so why is all we hear, the republicans won't do this, the democrats won't do that? danielle altman is an economics professor at ncu. daniel, one thing to acknowledge here, finding $85 billion should be no problem. $85 billion is a really small chunk of the change we actually need to find. so even if you cut from the right places, if you cut the right amount, it would hurt people, and i think we have to be honest about that, but the cuts we're talking about right now impact a lot of people, but brutal and dangerous for the economy? >> well, the thick is this. that it's $85 billion until the end of this year, but then we have these cuts maintained, and enlarged in some cases, going forward over the next seven years. so we've got almost $1 trillion in cuts. so if the sequester goes forward -- >> but over that ten-year period, you have to multiply that times ten too. >> but expectations
coming from china are having devastating consequences on the u.s. economy. in short, u.s. investigators are accused china of economic espionage, of stealing research and design. this allows them to compete without stealing billions on innovation and product development. if this is true, americans should care because it's costing them countless jobs. they are calling this the biggest transfer of wealth in history. >> we saw one of a cyber pearl harbor. and the white house is preparing to take action. >> reporter: this week, they are announcing plans to help private companies in identifying and mitigating such attacks, george. >>> we're going to go to the white house, where president obama will appear later this morning, to warn against the next budget crisis that's coming fast. automatic spending cuts to hit every government program in just ten days. abc's jon karl has more on what we expect to hear from the president. good morning, jon. he's going to ratchet up the pressure on congress. >> reporter: he sure is. he's trying to shame congress to do something to replace the cuts. and this
of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. something this delicious could only come from nature. new nectresse. the 100% natural no-calorie sweetener made from the goodness of fruit. new nectresse. sweetness naturally. >>> the former lapd officer now has thousands of his brothers in blue chasing him. just who was christopher dorner? what lit the fuse to cause this explosive rampage. >> reporter: christopher dorner, target of the largest manhunt in lapd history. a vengeful ex-cop, highly trained marksman, armed and dangerous. turning against the very agency that defined him. >> he loved being a cop. he wanted to be a cop all his life. >> the chris corner that was terrorizing california is far from the sunny upbringing of his southern california childhood. he grew up in los angeles's sprawling suburbs with his mother and sister. it's here
, national security or the economy. -- or our economy. but once again the president offered no credible plan that can pass congress -- only more calls for higher taxes. mitch mcconnell had this to say in a statement after the president's speech. quote, today's event at the white house proves once again that more than three months after the november election, president obama still prefers campaign events to commonsense, bipartisan action. if anyone is waiting for any last-minute deals, they better not hold their breath waiting for them to come from mitch mcconnell. here's what he said to reporters a week ago. >> it's pretty clear to me that the sequester is going to go into effect. read my lips. i'm not interested in 11th hour negotiation. >> so congressional republicans are definitely striking back at the president, saying he can prevent damage to essential services by cutting from other areas of government. earlier i spoke with the republican senator rand paul of kentucky. senator, the president spoke today about those forced budget cuts. he had some pretty tough words for republicans. let
. >> so these cuts are not smart. they are not fair. they will hurt our economy. they will add hundreds of thousands of americans to the unemployment rolls. this is not an abstraction. people will lose their jobs. >> so there are two solutions. number one, lawmakers find another way to punt, ie, delay the cuts for another few months or two, actually come up with a major plan to slash the debt. number two is not going to happen. the punt, i kind of like. anyway, that won't happen. number one has a decent chance. number one has failed, too. after all, the feared forced cuts are only 2.5% of projected total federal spending. we have an economics professor at nyu and former director of the congressional budget office. at this point, are the cuts inevitable? why is the president still talking about it? >> well, we're ten days away and it seems like the republicans really don't want to do anything to fend off this crisis. you said sequester is an odd word. in a lot of languages, it means kidnap. it's sort of a kidnap situation because the economy is kidnapped, fearing that we might lose maybe
and author of "beyond outrage," what's gone wrong with our economy and how to fix it and ari fleischer, former white house press secretary under george w. bush. all right, let's get some action here. robert, the white house responded to john boehner's challenge of saying, where are the cuts, with a blog post from dan pfeiffer who wrote, "the fact is, the president has a detailed balanced plan with spending cuts, he's willing to make tough choices. now it's time for the speaker to do the same." then he had a link to an 80-page proposal from september, including war savings, it includes tax reform, which of course they want. it doesn't fully lay it out by any stretch of the imagination. so jay carney was asked what specifically will the white house cut and here's what jay carney said. >> it's in the proposals he submitted to the speaker of the house that the speaker walked away from -- >> where does the president prevent sequestration from happening? shouldn't the president take the lead and present that -- >> well, first of all, congress has to act. >> all right. it's frustrating, no ma
are not smart, they are not fair, they will hurt our economy, they will add hundreds of thousands of americans to the unemployment roll. people will lose their jobs. the unemployment rate might tick up again. >> cnn chief national correspondent john king is looking at the impact that we can expect from these cuts. >> webster defines sequester as to set apart or segregate. in washington, it's a fancy word for spending cuts. an example of political leaders in both parties are failing to do their most recent job. >> they have doubled down on the cuts i've outlined. >> here's what will happen. $85 billion in federal budget cuts kick in. that's 9% of nondefense spending and 13% of the pentagon budget over the next seven months. what's protected? medicare and social security. so are medicaid and food stamps, military personnel and the v.a. are examined. most federal agencies would make cuts and the white house warns, among other things, furloughs of the fbi, border patrol, and food safety inspections. the president says vital government services would suffer and the economy would weaken. republicans
that the iranians will want to be seen as making concessions to the west before then. but iran's economy is really hurting because of these biting sanctions on their oil sector and central bank. take a look at this. in the last year alone, the iranian currency has fallen 80%. so the u.s. and its partners feel maybe the rulers are getting desperate and could seriously negotiate after the elections. in the short term it might be good to get the talks going again and see what iran really wants. >> elise, thanks. >>> coming up, one of the most anticipated retail reports of the year from walmart just into cnn. we'll tell you the numbers and also what it means for the economy when we come back. dermatologist recommended [ ] aveeno has an oat formula, now proven to build a moisture reserve, so skin can replenish itself. that's healthy skin for life. only from aveeno. so skin can replenish itself. how do you keep an older car running like new? you ask a ford customer. when they tell you that you need your oil changed you got to bring it in. if your tires need to be rotated, you have to get that done as
of investment choices to help you fine-tune your personal economy. call today and we'll make it easy to move that old 401(k) to a fidelity no-fee ira. with the bing it on challenge to show google users what they've been missing on bing. let's bing it on. [fight bell: ding, ding] how many here are google users? what if i was to tell you that you would actually like bing way more than google when it came to the results? prove it. let's look up some taco places. i like the left side. yeah? okay, do we need to find out what the waves are like down at the beach? what side do you like better? i like the results on the right. i'm gonna go with the one on the left. oh! bing won! people prefer bing over google for the web's top searches. don't believe it? go to bingiton.com and see what you're missing. >>> welcome back, everybody. 7:30 on the east coast. a man accused of slapping a crying toddler on a delta flight is now out of a job. joe hundley is no longer being employed. the parents of the 19-month-old boy are still in shock. renee marsh following the story from washington, d.c. >> fired, that's
understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses google's backyard for the wbing it on challenge.. [fight bell: ding, ding] what's your preferred search engine? search engine, uhh, probably google. if we do a side by side blind test comparison, and you end up choosing google, you get an xbox. i'll bet you the xbox, you bet me your son. well let's look up what you need. okay, i would do the left. yeah? what?! i am a daddy! bing wins it! bing won. bing did win. people prefer bing over google for the web's top searches. don't believe it? go to bingiton.com and see what you're missing. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the
, you can also head to today.com. we'll be back after this. fidelity is there for your personal economy, helping you readjust your retirement plan along the way. rethink how you're invested. and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices to help you fine-tune your personal economy. call today and we'll make it easy to move that old 401(k) to a fidelity no-fee ira. body washes with paper that reacts like skin. if others can strip this paper, imagine how harsh they can be to your skin. oh my gosh. [ female announcer ] dove is different. its new breakthrough formula changes everything. new dove. this is care. ♪ time to jump in to something new ♪ ♪ ♪ the best part of wakin' up ♪ is folgers in your cup ii am the hero of my story.lly. ♪ the best part of wakin' up i am her hero. i am ready for tonight. i am ready for the rest of my life. let your hair color do the talking new revlon luxurious colorsilk buttercream™, ammonia free, triple butter complex of mango, shea, and coconut for superior hair color, gorg
that doesn't endanger our economy and jobs. >> reporter: now, just to hammer that message home, the white house sent out ray lahood to talk to reporters at the white house briefing. he talked about what he called a cal c calamity if these cuts go through. 47,000 faa employees are facing furloughs. that would result in delays at the airports and air traffic control would not have the staff that they normally would have and they might be closed altogether at the small air traffic control offices. here's what the transportation secretary had to say. >> flights to major cities, like new york, chicago, san francisco, and others could experience delays up to 90 minutes during peak hours because we have fewer controllers on staff. delays in these major airports will ripple across the country. >> reporter: now, earlier today, house speaker john boehner sent out a tweet complaining that the president is spending more time trying to blame republicans that he's actually engaging in negotiations and i can tell you from talking to both the speaker's office and the office of senate minority leader mitc
eight months since graduating i'm still struggling with. >> he's not alone. >> our economy is adding jobs but too many people still can't find full-time employment. >> when president obama took office, 134 million americans were working in nonfarm jobs. today, after massive losses and a slow recovery, we're only 1.2 million jobs better off. and many pay less than those that were lost. a recent study by the center for college affordability found almost half of college graduates are now in jobs that do not require four-year degrees. things like janitorial services, taxi driving and retail sales. professor richard vedder at ohio university helped author that study. >> let's say each one of them were making $20,000 a year more in income, which is quite plausible. we are talking about $400 billion a year in lost wages. >>> numbers like that made some economic analysts argue that underemployment may be every bit as damaging to the economy as unemployment. and kellock irvin is caught in the middle of it all. for now he takes freelance jobs as a photographer and part-time work with moving co
never been stronger. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >>> one of america's biggest cities is facing a financial crisis right now. it may go bankrupt. detroit used to be america's fifth largest city. that was back in 1960. it's now slipped to 18th having lost half of its population. this afternoon, michigan's governor told reporter he's putting off a decision on whether to put a special manager in charge of the city's finances and in a break from the kind of politics we often see here in washington, the governor went out of his way to avoid the blame game. >> we shouldn't be spending any time on the blame question. this isn't about the last year. this isn't about what's going on since mayor bing. this is an issue that's struck urly been there for decades. and if you look at what it behind all this, it's this, the decline in population. >> a huge decline in population. let's discuss what is going on. detroit's mayor is joining us. mayor bing, thanks for coming in. >> thank you, wolf. my pleasure.
it gives us a sense of how consumers worries about the economy have impacted their spending. >> jackie deangelis, thanks. >>> this 17-year-old in santa fe was throwing snowballs from his ski lift when he lost his balance, dangling from the chair and plummeting nearly five stories to the ground. the teen was air lifted off the mountain and taken to a local hospital, but he is doing all right now. we're glad he's okay. at 7:15, back to willie, natalie, savannah. >> no snowballs where you are. >> no. and salt on margaritas. >> not to rub it in. savannah went the next step. >> yeah. wow! >>> al has a look at the rest of the national forecast. hey, al. >> hey, guys. all of our friends are here. go ahead, who is here from the north? okay. show of hands, who here feels bad that they're here from the north. all right. there you go. everybody back home, we're all sending our love. let's see what we've got for you as far as our forecast. friends in the pacific northwest getting another big storm coming onshore. heavy rain and snow in the mountains along the coast. we're talking ab rain around th
economy. the president's talk about preschool education, which is only available for only three out of every ten children. that is such a great investment in our future. our nation used to lead the world on secondary education, on college education. but we've fallen behind the world on preschool education. and we've seen in study after study, the rate of return is fantastic in terms of helping young people become more responsible, seek careers and jobs. but what was missing from the speech was the president's failure to challenge his party, my party, to engage in entitlement reform, for example. i think that is certainly a role that he has to play to move the debate to the center and to really bring about a consensus about an economic recovery. >> moving on, this was a moment that went viral. marco rubio's response. he's a rising star in the g.o.p. gets his moment in primetime. but his lunge for the water bottle steals the spotlight. look. >> nothing's frustrated me more than false choices like the one the president laid out tonight. the choice isn't just between big government and
crisis. the economy, the energy crunch and turmoil in the middle east. sound familiar? i know john paul ii, whom we knew quite well, went through a lot more ordeals and i think more health problems than pope benedict, but i don't -- i'm not in a position to criticize. i don't know what his status of health is. >> but if an american president retired on the grounds of exhaustion, they would be ridiculed, wouldn't it? >> i think it wasn't just exhaustion, but he wasn't able to handle the mental challenges to handle his job. it's up to him to make a decision. not been done much in the past. >> a lot of people when i said i was interviewing you. >> yes. >> said to me, as long as last time, said he's the greatest post president america has ever had. is that compliment or a veiled insult? >> i take it as a compliment. my wife would take it maybe as a veiled insult. we did a lot of good things when we brought peace to egypt. we formed an alliance with china after 35 years, we told the truth, we kept our country at peace for four years, which is a rare thing. >> incredibly rare. >> i think we -
. >> reporter: he's not alone. >> our economy is adding jobs, but too many people still can't find full-time employment. >> reporter: when president obama took office, 135 million americans were working in nonfarm jobs. today after massive losses and a slow recovery, 1.2 million jobs better off and many pay less than those that were lost. a study by the college for affordability found almost half of college graduates are in jobs that do not require four-year degrees. things like janitorial services, taxi driving and retail sales. professor richard vetter at ohio university helped author that study. >> let's say each one of them were making $20,000 a year more in income which was -- require plausible, we're talking about $400 billion a year in lost wages. >> reporter: numbers like it have made some economic analysts argue that underemployment may be every bit as damaging to the economy as unemployment. and kelich irwin is caught in the middle of it all. he's taking freelance jobs and part-time work with moving companies but -- >> they can only support me for so long before my need to hea
in places like west virginia and tightening them further is only going to squeeze that part of the economy even more, and sol of the higher prices will be passed on to you and me as consumers. they also argue that the keystone pipeline will be safe with the technology today and bring jobs to places like nebraska and also help the u.s. to become more energy independent. don? >>> all right. thank you, chris. the big stories in the week ahead from wall street to hollywood, and our correspondents will tell you what you need to know. we begin with what is happening tonight at the pentagon. >> i'm barbara starr at the pentagon. defense secretary leon panetta was to be home in california in retirement, but now that congress will not deal with the chuck hagel nomination for another ten days, panetta still is on the job. he will travel to brussels for a nato summit to talk about afghanistan and other security issues. when the summit is over on friday, the big question, does he come back to the pentagon or does he try once again to go home to california? >> i'm poppy harlow in new york and while the
Search Results 0 to 49 of about 92 (some duplicates have been removed)